How Has the Automotive Position Sensor Market Evolved Historically and What is its Current Size?
The automotive position sensor market has seen considerable growth due to a variety of factors.
• The automotive position sensor market has shown strong growth in recent years. It will rise from $5.68 billion in 2024 to $6.09 billion in 2025, at a CAGR of 7.3%.
The growth is attributed to the increasing adoption of emission norms, growing focus on vehicle safety features, the rise of electric vehicles (EVs), greater complexity in vehicle electronics, and the growth of autonomous vehicles (AVs).
What Does Future Hold for The Automotive Position Sensor Market By 2029?
The automotive position sensor market is expected to maintain its strong growth trajectory in upcoming years.
• The automotive position sensor market is expected to grow significantly, reaching $7.96 billion by 2029 at a CAGR of 6.9%.
This growth is attributed to the rising demand for electric and hybrid vehicles, increasing vehicle electrification, government initiatives, greater demand for vehicle and environmental monitoring, and a push for compact, energy-efficient sensors. Trends include advancements in automotive technology, integration of IoT and connectivity, vehicle miniaturization, technological convergence, and the development of advanced ADS systems.
What Are The Primary Growth Drivers In The Automotive Position Sensor Market?
Increasing demand for electric vehicles (EVs) is projected to drive the growth of the automotive position sensor market. EVs, powered by electric motors, are gaining popularity due to environmental concerns, technological advances, and government incentives. Automotive position sensors in EVs monitor the position of various components, improving performance and safety. For example, in July 2023, the International Energy Agency reported that over 2.3 million EVs were sold in the first quarter of 2023, a 25% increase from the same period in 2022. By the end of 2023, total sales are expected to reach 14 million, a 35% increase year-on-year. Therefore, the rise in EV demand is spurring growth in the automotive position sensor market.
What Is The Segmentation Of The Global Automotive Position Sensor Market?
The automotive position sensor market covered in this report is segmented –
1) By Type: Multi-Axis, Angular, Linear, Other Types
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
3) By Sales Channels: Original Equipment Manufacturers (OEMs), Aftermarket
4) By Applications: Clutch, Brake And Accelerator Pedals, Engine, Transmission And Suspension, Gear Shifters, Chassis, Other Applications
Subsegments:
1) By Multi-Axis Position Sensor: 3-Axis Position Sensors, 6-Axis Position Sensors, Multi-Axis Sensors For Steering Systems, Multi-Axis Sensors For Seat Adjustments, Multi-Axis Sensors For Vehicle Stability Control
2) By Angular Position Sensor: Rotary Position Sensors, Angular Position Sensors For Steering Angle Detection, Angular Position Sensors For Pedal And Gear Shift Positioning, Contactless Angular Position Sensors, Rotary Encoders For Position Sensing
3) By Linear Position Sensor: Linear Potentiometers, Linear Variable Differential Transformers (Lvdt), Capacitive Linear Position Sensors, Inductive Linear Position Sensors, Hall-Effect Linear Position Sensors
4) By Other Types: Proximity Position Sensors, Optical Position Sensors, Pressure-Based Position Sensors, Magnetic Position Sensors, Strain Gauge Position Sensors
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What Trends Are Shaping The Automotive Position Sensor Market?
In the automotive position sensor market, companies are developing products like Hall technology sensors to offer precise position sensing, improving vehicle performance, safety, and efficiency. In October 2023, TDK Corporation launched the HAL 3927, a 3D HAL technology-based position sensor that provides high-resolution measurements with a linear analog output and integrated wire-break detection. It can measure both horizontal and vertical magnetic-field components, enabling precise position measurements for automotive and industrial applications, including rotary and linear positions up to 360°.
Who Are the Key Players In The Automotive Position Sensor Market?
Major companies operating in the automotive position sensor market are:
• Robert Bosch GmbH
• Panasonic Corporation
• Denso Corporation
• ZF Friedrichshafen AG
• Continental AG
• Magna International Inc.
• Mitsubishi Electric Corporation
• Honeywell International Inc.
• Texas Instruments Incorporated
• Aptiv Plc
• Schaeffler AG
• TE Connectivity
• STMicroelectronics N.V.
• Infineon Technologies AG
• Murata Manufacturing Co. Ltd.
• NXP Semiconductors
• BorgWarner Inc.
• Amphenol Corporation
• Analog Devices Inc.
• HELLA GmbH & Co. KGaA
• Sensata Technologies Inc.
• Allegro MicroSystems Inc.
• Stoneridge
• Melexis
• CTS Corporation
What Are The Regional Insights Into The Automotive Position Sensor Market?
Asia-Pacific was the largest region in the automotive position sensor market in 2023. The regions covered in the automotive position sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
